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Anonymous

30 Oct 2023

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Should I keep or cancel Manulife Smartwealth (II) bought nearly 4 years ago?

Seeking advice here. At the start of Jan 2020, I bought this Manulife Smartwealth (II) for 5 years putting in $500 a month. This was just before COVID affected our lives.

The premiums are allocated into these 2 funds:

NIKKO AM SHENTON SINGAPORE DIVIDEND EQUITY FUND

FIRST SENTIER BRIDGE A DIST SEMI-ANNUAL FUND

To date, I have put in $22,500, the current account value is $20,684.82 and the surrender value is $12,410.90.

I am disappointed at performance of the funds. Would a fund switch be advised or should I bite the bullet and cut my losses?

Thank you.

7

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Joshua Jimmy Tan

30 Sep 2024

Hi, a year too late for an opinion?

Try to do fund switch to another fund that may help your plan.

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Jacky Chun

31 Dec 2023

After 5 years maturity still lost what to do?

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I.L.

Edited 02 Nov 2023

Hmm, if you cannot afford the DCA, then just cancelled the ILP and accept the loss.

If you can afford it, the market might get better at the end of 5 years, so you might get a small gain. Thus, just keep the ILP.

In the future, please do not get any ILP from any companies. Financial advisors are highly incentivize to sell ILP and are also the only ones who sing praises about ILP. You will do better by just DCA into ETFs and stocks like S&P 500.

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YOC

01 Nov 2023

If you can afford it, then continue until break even.

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Anonymous

31 Oct 2023

Hi Anon!

I'd advised you to to continue to pay till the policy maturity date if you're able to ...

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